Boeing: Capitulation Time Again

Four analysts upgraded Boeing following its earnings, which pushed the stock to its biggest gain since 2008. One team of analysts explains what it got wrong.

By

Ben Levisohn

July 27, 2017 10:16 a.m. ET

Text Size

Regular

Medium

Large

By

Ben Levisohn

July 27, 2017 10:16 a.m. ET

Yesterday, Boeing (BA) posted its biggest gain since October 2008, pushing it to a new all-time high. So what comes next? Upgrades, of course!

And it's not just one upgrade for Boeing, it's four. Boeing's shares were upgraded by RBC, Credit Suisse, BofA Merrill Lynch, and Goldman Sachs. The timing, of course, leaves much to be desired, but RBC's Matthew McConnel and Wojciech Majerczak acknowledge their mistake in their upgrade:

We are capitulating on our Underperform rating as Boeing executes well on cash flow, BCA...